Under Armour Inc. is expecting supply chain challenges to drag down its results for the next few months, but CEO Patrik Frisk is confident that the company can successfully navigate this “short-term speed bump” and finish the year strong. The Baltimore sportswear maker reported financial results for the fourth quarter and all of 2021 on Friday morning. Despite beating Wall Street expectations for both profit and sales, Under Armour’s stock dropped almost 10% in mid-morning trading after the company warned that its revenue will likely take a 10 percentage point hit in the current quarter due to supply chain constraints caused by the ongoing pandemic.
Under Armour CEO expects supply chain challenges will be ‘short-term speed bump’
February 14, 2022